Ashneer Grover, Former BharatPe Co-Founder in a letter to RBI told that BharatPe has consciously “defrauded” it by taking back Bhavik Koladiya, the person who was subjected as a chain fraud in US to cap table of the company, after getting a cluster of licences.

Further, Grover requested RBI to seek into whether the board of the company & investors “warehoused” the shares of Koladiya for certain period, only to take him back after receiving requisite grants from the RBI.

In order to responding for this, the company stated that it would be surely pursue to carry criminal & civil action against Grover in the High court, EOW –Economic Offences Wing and other interrelated authorities.

In an official statement, the company said, “BharatPe has a stellar Board with Independent Directors under the guidance of Rajnish Kumar and we give the highest importance to governance, transparency and building a sustainable business. Recent media stories indicate that a letter with unsubstantiated allegations has been written to the RBI by Ashneer Grover. These allegations are frivolous and nothing but another desperate attempt to malign the company. We continue to pursue civil and criminal action against Grover at the Hon’ble High Court, Economic Offences Wing (EOW) and other relevant authorities and is committed towards taking them to their logical conclusion”.

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